Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20x2 Sales $ 3,990,000 Cost of goods sold 2,480.000 Gross profit $1,510,000 Selling and administrative expense 744,000 Depreciation expense 261.000 Operating income $ 505,000 Interest expense 87,300 Earnings before taxes $ 417.700 223,000 Earnings after taxes $ 194,700 Preferred stock dividends 10.000 Earnings available to common stockholders $ 184,700 Shares outstanding 150,000 Earnings per share 1.23 Statement of Retained Earnings Tor the Year Ended December 31, 20x2 Retained earnings, balance, January 1, 20X2 Add Earnings available to common stockholders, 20x2 Deducti Cash dividends declared and paid in 20X2 Retained earnings, balance, December 31, 20x2 $889.100 184,700 148.000 $925,800 Comparative Balance Sheets For 20X1 and 20x2 Year-End 2022 Assets Current assets $ 180,000 57.200 MacBook Air Comparative Balance Sheets Tor 20x1 and 20X2 Year-End Year-End $ 180.000 535,000 684.000 67,000 $1,466,000 57,200 562.000 704,000 $1,358,700 $ 2.640.000 1,510,000 $ 3.250,000 1,771,000 1.130,000 $2,692,900 1.479,000 $2,925,600 Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments (long-term securities) Gross plant and equipment Less: Memulated depreciation Net plant and equipment Total assets Liabilities and stockholders' Equity Current liabilities: Accounts payable Notes payable Mered expenses Total current liabilities Tong-term liabilities: Bonds payable, 20x2 Total liabilities Stockholders' equity: Preferred stock, $100 par value Connon stock, 51 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders equity 348,000 592.000 29.000 $1,019,800 $ 557,000 592.000 51,800 $1,200,800 190.000 $1,213,806 150.000 $ 90,000 150,000 350,000 925, 800 $1,515,800 $2.925,60 a. Prepare a statement of cash flows for the Crosby Corporation (Amounts to be deducted should be indicated with parentheses a minus sign.) MacBook Air newonnect education.com Rey Dann ho: Chapter 2 Homework ter 2 Homework Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet Capital paid in excess of Me Total stockholder ty Total liabilities and stockholdersequity a. Prepare a statement of cash flows for the Crosby Corporation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) Answer is not complete. CROSBY CORPORATION Statement of Cash Flows For the Year Ended December 31, 20X2 Cash flows from operating activities Net Income Adjustments to determine cash flow from c ing activities Add back depreciation $ 25.000 Increase in accounts payable 209.000 Increase in inventory 20.000) Decrease in prepaid expenses 31.500 Increase in accounts receivable (270001 Decrease in accrued expenses Total adjustments Net cash flows from operating activities Cash flows from investing active Decrease in investments 9,000 Increase in plant and equipment 610.000 Nel cash fows from investing activities 1801.0001 MacBook Air wo d ucation.com OG: Chat Hon ho: Chapter 2 Homework Help Savet Check my work mode: This shows what is correcte incomest for the work you have completed so far. It does not indicate completion b. Compute the book wwlue per common share for both 20X1 and 20X2 for the Crosby Corporation (Round your answers to decimal places) Answer is complete but not entirely correct. the market value of a share of common stock is 25ebook value for 2 intermediate calculations. Round your final w rto 2 decimal places) firm's Perto for 20x2? (Do not round Answer is complete but not entirely correct. TASOTH kill